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First 100K Tron (TRX) Loan Reward Distribution: A Big Development For Tron

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Even though a gigantic development is on the way, Tron (TRX) deems it fit to create more awareness in the space with a finance program tagged ‘TRON LOAN’ which aims at inspiring community developers to build, explore and innovate new ideas and project with TRON blockchain network while simultaneously enriching the network.

The altcoin, on its Medium page today announced that the Loan program which began two weeks ago has seen the release of the first 100K reward.

“Since project launch, we have received almost 100 applications from the global TRON community. After careful deliberation, we have selected the first TRON LOAN winner — Getty.io, Tron aired in the release”

A link was attached to the post for whoever that wishes to confirm the transaction and when checked, I found the transaction genuine and it being paid with BTC.

Earlier, the blockchain network had mentioned that it will be rewarding every selected project with a 100k loan to developers so that they can discover their brilliance.

Getty.io according to the disclosure is the company whose team is behind the development of a Cold wallet product TronVault app for Tron.

The TronVault Cold Wallet, designed by Getty.io was developed with the attribute of being one of the most protected apps that can be used to store TRX for long and short term on either iOS or Android.

The South American based company specialized in modern JavaScript, Getty.io designed the wallet to have the following features.

Implemented Features:

  • Offline password encryption
  • Offline seed encrypted store
  • Master key restore process
  • Receive Transactions with QR Code
  • Bip39 seed recovery
  • Multiple accounts
  • Account restore with seed + vault number
  • It cannot create transactions
  • It does not have network permissions (no threat of network-based hack or transmission of secure keys directly from the app)
  • It will store the secret encrypting the database file on disk with AES-256+SHA2 by supplying a key typed by the user
  • Sign transactions offline with copy/paste buffer
  • Created with React Native

While commending the effort of the South American company, Tron said it hopes the loan would be sufficient to fully optimize the project.

“Although Getty.io’s project has room for improvement, we recognize the effort and commendable work ethic of the team — project qualities that we want to promote. We hope the 100k TRON LOAN will help Getty.io continue optimizing their TRON-based cold wallet project. TRON welcomes other outstanding teams to participate in the TRON ecosystem and receive support”.

Tron further aired that it has no commercial gain from the program and it is hoping to support, incubate and fund more innovative projects.

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